Iris Energy (NASDAQ:IREN) Price Target Raised to $19.00 at Macquarie

Iris Energy (NASDAQ:IREN) had its price objective lifted by Macquarie from $13.50 to $19.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

IREN has been the topic of several other research reports. HC Wainwright boosted their target price on Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Roth Mkm started coverage on Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. Roth Capital upgraded Iris Energy to a “strong-buy” rating in a research note on Tuesday, October 1st. B. Riley cut their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. cut their target price on Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $16.94.

Iris Energy Trading Up 10.4 %

Shares of IREN opened at $14.27 on Wednesday. The stock has a 50 day simple moving average of $9.91 and a 200 day simple moving average of $9.76. Iris Energy has a 52-week low of $3.56 and a 52-week high of $15.75.

Institutional Investors Weigh In On Iris Energy

A number of institutional investors and hedge funds have recently made changes to their positions in IREN. AFG Fiduciary Services Limited Partnership bought a new stake in Iris Energy in the 3rd quarter valued at $77,000. Covestor Ltd bought a new stake in Iris Energy in the 3rd quarter valued at $87,000. Sippican Capital Advisors bought a new stake in Iris Energy in the 3rd quarter valued at $94,000. Bluefin Capital Management LLC bought a new stake in Iris Energy in the 2nd quarter valued at $113,000. Finally, Seven Eight Capital LP bought a new stake in Iris Energy in the 2nd quarter valued at $146,000. Institutional investors own 41.08% of the company’s stock.

About Iris Energy

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.